REDSTONE RESOURCES LIMITED — Director's Dealing 2009

Dec 3, 2009

Appendix 3Y

9Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	REDSTONE RESOURCES LTD
ABN	42 090 169 154

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Richard Homsany
Date of last notice	4 December 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect Interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Trustee and beneficiary of family trustRichard and Rosa Diana Marisa Homsany
Date of change	4 December 2009
No. of securities held prior to changeRichard and Rosa Diana Marisa Homsany	Indirect Interest•1,000,000 Unquoted optionsexercisable at $0.95 per share at anytime on or before 30 November2012.•500,000 Unquoted optionsexercisable at $1.20 per share at anytime on or before 30 November2012.
Class	Unquoted Options

+ See chapter 19 for defined terms.

Number acquired
Richard and Rosa Diana Marisa Homsany	•1,500,000 Unquoted optionsexercisable at $0.25 per share at anytime on or before 30 November2014.•500,000 Unquoted optionsexercisable at $0.30 per share at anytime on or before 30 November2014.•500,000 Unquoted optionsexercisable at $0.35 per share at anytime on or before 30 November2014.
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change
Richard and Rosa Diana Marisa Homsany	•1,000,000 Unquoted optionsexercisable at $0.95 per share at anytime on or before 30 November2012.•500,000 Unquoted optionsexercisable at $1.20 per share at anytime on or before 30 November2012.•1,500,000 Unquoted optionsexercisable at $0.25 per share at anytime on or before 30 November2014.•500,000 Unquoted optionsexercisable at $0.30 per share at anytime on or before 30 November2014.•500,000 Unquoted optionsexercisable at $0.35 per share at anytime on or before 30 November2014.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Issue and allotment of unquoted optionsfollowing shareholder approval.

+ See chapter 19 for defined terms.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

+ See chapter 19 for defined terms.